The Trade Desk (NASDAQ:TTD) Stock Has Consensus Price Target of $18.19

Shares of The Trade Desk (NASDAQ:TTD) have received an average recommendation of “Reduce” from the thirty-nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.19.

TTD has been the subject of several research reports. Zacks Research downgraded shares of Trade Desk from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Scotiabank set a $12.00 price objective on Trade Desk and gave the company a “sector perform” rating in a report on Friday, August 7th. Moffett Nathanson set a $6.00 target price on Trade Desk in a research report on Friday, August 7th. Wolfe Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Trade Desk in a report on Friday, August 7th. Finally, Citigroup downgraded Trade Desk from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $21.00 to $11.00 in a research note on Friday, August 7th.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its position in shares of Trade Desk by 148.0% in the second quarter. Tidal Investments LLC now owns 122,121 shares of the technology company’s stock valued at $2,208,000 after buying an additional 72,888 shares during the last quarter. Archford Capital Strategies LLC purchased a new position in shares of Trade Desk in the 2nd quarter worth about $326,000. Integrated Wealth Concepts LLC lifted its position in Trade Desk by 84.3% during the second quarter. Integrated Wealth Concepts LLC now owns 16,351 shares of the technology company’s stock valued at $296,000 after buying an additional 7,480 shares in the last quarter. RFG Advisory LLC lifted its holdings in shares of Trade Desk by 37.9% during the 2nd quarter. RFG Advisory LLC now owns 115,773 shares of the technology company’s stock valued at $2,093,000 after acquiring an additional 31,821 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Trade Desk by 91.4% during the second quarter. NewEdge Advisors LLC now owns 72,221 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 34,484 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Trading Up 0.3%

TTD stock opened at $11.98 on Friday. Trade Desk has a twelve month low of $11.74 and a twelve month high of $56.39. The stock has a market cap of $5.63 billion, a P/E ratio of 14.26, a PEG ratio of 1.38 and a beta of 1.00. The company’s 50 day moving average is $14.35 and its two-hundred day moving average is $18.54.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities research analysts predict that Trade Desk will post 0.49 earnings per share for the current year.

Trade Desk Company Profile

The Trade Desk, Inc is a technology company that operates a cloud-based advertising platform. Its demand-side platform enables advertising agencies and brands to plan, purchase, optimize and measure digital advertising campaigns across channels, including connected television, display, video, audio, mobile and social media.

The company provides tools for audience targeting, campaign management, data analysis and performance measurement. Its platform is designed to help advertisers purchase digital media across multiple publishers and formats, while supporting programmatic advertising and data-driven decision-making.